Beyond Connectivity! Why telecoms in India need to rethink their revenue generation strategy?

According to the expectations of Industry experts, a huge growth was projected in Telecommunications sector worldwide for (FY 2019). However, it is evident that in comparison to Telecommunications, industries such as IT, Healthcare & Manufacturing are leading and are one step ahead in the aspect of revenue generation. Now, it’s the turn of Telecom Sector to understand the root cause for low performance.

Analyzing the scenarios that support the above statement at the grass root level, segregating the industry’s performance geographically, a country like India with a population of 1.3 billion where more than 80% (number on rise) of the population is using mobile phones and other digital services, an analysis must be initiated by the top shots of the industry as to why we are still lagging behind? For a country that excessively uses the internet and mobile phones, the sector should be making a good profit. However, this has not happened. Why?

To be a leader in the market, any industry would require innovation, design, creativity and most importantly, enhanced customer experience and consumer satisfaction to meet the increasing demands of the customers. This has become a great challenge for enterprises today. With Digital Transformation making its mark as the competitive advantage, it’s time to go beyond the obvious and attempt something new, which is only possible by enhancing customer experience. Clearly, Telcos can achieve greater output with increased customer centricity, business agility and operational efficiency that comes with Digital Transformation.

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